PENN Entertainment and its sportsbook platform provider Kambi reached an agreement last week on Barstool Sportsbook moving to its own platform.
PENN is moving the Barstool brand to a proprietary trading platform starting in 2023. The mobile portion should be finished by the third quarter, with retail sportsbooks moving over in 2024.
The agreement announced Oct. 5 provides Kambi with multiple areas of compensation for the change.
What does Kambi get from Barstool switch?
Kambi will get a one-time payment of $12.5 million for the early termination of the sports betting agreement from 2019. The two launched sports betting in 15 states, with 13 mobile sportsbooks and 25 retail books.